UMT United Mobility Technology AG has decided to integrate important elements of its value chain by expanding into payment services processing (PSP) and acquiring, e-money payments and banking services for corporate and retail clients, under the various applicable regulations of the financial supervisory authorities.
With this step, UMT will significantly expand its value chain and will be rounding off its unique selling proposition by responding to modern regulation (i.e. PSD2), as well as customer needs and requests.
As operator of one of the largest mobile payment platforms in Europe, this expansion will eliminate costs associated with the use of third-party processing and will provide a platform to offer customers a much larger variety of products in the payment, finance, loyalty and crypto markets.
UMT has offered its mobile payment and loyalty platform to corporate clients primarily on a white label basis yet and will from now on grow into a European payment, banking and loyalty services provider for corporates and end users alike.